Start 2025 with the confidence of a Will
3rd February 2025
Our Private Client team is urging people to tackle any uncertainty about their estate by putting a Will in place – no matter their age.
The call comes at a time when, according to the National Wills Report 2024, only 57% of men and 50% of women have written a Will.
With the first month of 2025 out of the way, getting a professional Will written can lead to peace of mind about your money going to the right people cost-effectively.
A Will ensures that all of your wishes are implemented, and streamlines the succession process for your family and friends – an important consideration as they struggle with grief.
The absence of a Will could lead to a distribution of assets that go against your wishes and may incur unnecessary inheritance tax.
A Will is vital at all ages, with younger people often gaining significant assets earlier in their careers than in the past. Younger people are also more likely to have more diverse assets and complicated family structures.
A well-written Will can take into account the effect a lump sum may have on beneficiaries that are on state benefits, and implement measures to mitigate them, such as putting a trust in place. It can also incorporate divorces and separations, children from other relationships, care and medical issues, tax, and help protect inherited family wealth, which is particularly important when accounting for changes to inheritance tax law.
The absence of a Will may lead to an unwelcome distribution of assets. Under UK law, the state decides who your estate must go to, this could be someone you did not want it to go to, whilst a loved one you intended to benefit ends up with nothing.
A professional service will ensure the Will does what you want it to do. Free online or cheap Wills are not up to ensuring your wishes are respected and may well trigger a legal battle between loved ones.
It may feel a bit morbid, but it is important to think of your Will as if you’re going to die tomorrow.
If you require Will services, then please get in touch with one of our highly experienced and friendly team. Our Will specialists will take the time to understand your individual circumstances and will provide you with tailored advice. We have offices in Coventry, Warwick, Southam and Balsall Common and our solicitors work across the whole of the Coventry and Warwickshire region and beyond.
Article written by Lead Solicitor in our Private Client department, Helen Strong.